The price action of GLAXO is currently in an uptrend. Recently, it broke through its trend line resistance and, according to the Impulse-Correction-Impulse (ICI) strategy, has since pulled back after retesting the breakout level. This retest has established dynamic support at the previous trend line resistance. The price is now hovering above the resistance level of 173.58, which is acting as initial support. The next resistance level is anticipated around 202.29. The Relative Strength Index (RSI) is currently at a level of 81 which indicates the stock is at overbought level. While MACD hovering above the neutral line.
Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.